Figure 3-13 Peru's Production Possibilities Frontier

question 36

Multiple Choice

Figure 3-13
Peru's Production Possibilities Frontier
-Refer to Figure 3-13.Suppose Peru decides to increase its production of rubies by 30.What is the opportunity cost of this decision?

• A)1/8 emerald
• B)1/3 emerald
• C)1 emerald
• D)3 emeralds

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Definitions:

Discovery of Gold

The finding of gold deposits, often leading to gold rushes and mass migrations of people seeking wealth, significantly impacting local economies and societies.

Transcontinental Railroad

A continuous network of railway trackage that crosses a continental land mass with terminals at different oceans or continental borders.

Mexican War

A conflict between the United States and Mexico from 1846 to 1848, resulting in the U.S. acquisition of territories that include present-day California, Arizona, and New Mexico.